Additionally, smart contracts can help pharmacists track dispensing errors by updating a patient’s medical record with information from the pharmacy’s computer system. For example, the smart contract can update the patient’s health records whenever the pharmacy updates its dispensing system.
Ethereum has massive use in the healthcare industry:
Ethereum can help the healthcare industry by giving them a new way to handle supply chain tasks. The Ethereum blockchain can digitize medical records and make medical documentation more transparent. For example, drug packaging confirmations and shipping events can be recorded on the blockchain along with shipment tracking numbers. People can also use the Ethereum blockchain to create a tamper-proof system for drug distributors and pharmacies to track drug shipments from leaving their warehouse to delivering to customers.
Ethereum allows anyone, anywhere in the world, to run arbitrary smart contracts for any purpose. The Ethereum blockchain can help the healthcare industry by making it possible to create decentralized autonomous corporations (DACs). A DAC is a process or group that performs automated contracts on behalf of separate and independent parties.
For example, a DAC will receive notifications from pharmacies, hospitals, and other organizations regarding shipment delivery dates. The DAC would automatically update the databases with this data and send alerts to clients. Furthermore, smart contracts will allow dACs to receive payments in real time without waiting for the funds to be sent via bank transfer. These payment systems will ensure that all relevant parties have access to accurate information.
What changes can Ethereum bring to the healthcare industry?
1. Better management of health records:
Ethereum can help the healthcare industry by using the blockchain to improve the management of individual medical records. The Ethereum platform can be used by doctors, hospitals, and insurance companies to store a patient’s medical records on the blockchain. Patients who want their information removed from a doctor’s or hospital’s database can do so via the blockchain.
2. Improve the safety of pharmaceutical drugs:
Ethereum can help the healthcare industry by providing secure and transparent control of pharmaceutical drugs and their transfer between different parties. Smart contracts running on the Ethereum blockchain will allow customers to verify if their medication was tampered with, shipped in an inappropriate container, or damaged in any way during transit.
3. Create a more transparent drug supply chain:
Ethereum can help the healthcare industry by making the supply chain more transparent for all customers. The Ethereum blockchain can record and confirm every transaction between manufacturers, wholesalers, distributors, pharmacies, hospitals, and patients. For example, customers purchasing pharmaceutical drugs can verify that their drug was manufactured in a trusted facility and stored using the proper shipping methods.
4. Integration with smart home systems:
Ethereum can help the healthcare industry by integrating with “smart home” systems that are configured to control lighting and heating elements in the house via a smartphone app or other smart network-connected devices. For example, companies can use innovative home systems to help keep seniors safe and warm by allowing them to use a wheelchair lift to enter the home. Innovative home technology can also be used in healthcare settings, such as hospitals, to help medical professionals keep patient room temperatures and lights consistent with their comfort levels.
5. Facilitate patent management:
Ethereum can help the healthcare industry by allowing it to manage intellectual property (IP) rights more efficiently and effectively. Many pharmaceuticals and other medical products are difficult to patent because complex chemical formulas and other aspects lack clear definitions. Blockchain technologies are already being used to create smart contracts and decentralized autonomous corporations that can manage intellectual property rights.
Ethereum can help the healthcare industry by providing a way to securely store and transfer medical records and other information via a blockchain-distributed ledger. As a result, Ethereum can reduce the risk of fraud, altered documents, and more.
6. Reduction of medical errors:
Ethereum can help the healthcare industry by reducing medical errors during pharmaceutical drug dispensing events when pharmacies receive inaccurate or faulty information from their computer systems. Smart contracts can monitor dispensing events in real time, using computer systems in both the pharmacy and the hospital to ensure accurate medicines are dispensed.
7. Create a decentralized medical dApp:
Ethereum can help the healthcare industry by creating dApps that can update or correct errors or omissions in patient records in real time. For example, if a patient’s doctor orders a medication that is not available at her location, users can use the Ethereum blockchain to update their medical files.
8. Make personal health more accessible:
Ethereum can help the healthcare industry by providing patients with an easy way to make all of their personal health information available on the blockchain. As a result, patients will have unparalleled access to their medical records wherever they are, even without an Internet connection.